Initial reaction is lower.
The EURUSD has moved higher and trades at new session highs.
The GBPUSD lags behind with the EURGBP moving higher.
The UDJPY has moved lower by about 25 pips so far.
The Fed minutes did say that the risks to outlook include the USD strength and were a more dovish in the initial interpretation by the market.
Technically, the EURUSD moves closer to the key resistance against the 1.0788 level. The price fell below this area yesterday and had a momentum move lower. A move back above it would take some of the steam out of the selling seen in the New Year.
The GBPUSD is moving more away from the lower trend line outlined in an earlier post and looks toward the closest trend line resistance at the 1.4650 level.
